The table above gives the demand for a monopolist's output. Between which two quantities is marginal revenue equal to 0?
A) 4 and 5
B) 3 and 4
C) 2 and 3
D) 1 and 2
A
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If the labor supply is unchanged, an increase in the demand for labor will
A) increase the equilibrium wage and increase the quantity of jobs demanded. B) increase the equilibrium wage and decrease the number of workers employed. C) decrease the equilibrium wage and increase the number of workers employed. D) increase the equilibrium wage and increase the number of workers employed.
Suppose that the cost of living is 25 percent higher in Chicago than in Indianapolis. If wages in Chicago are 10 percent higher on average than wages in Indianapolis, then eventually the labor supply will
a. fall in Indianapolis, increasing the average wage there b. fall in Chicago, increasing the average wage there c. rise in Indianapolis, increasing the average wage there d. rise in Chicago, decreasing the average wage there e. fall in Indianapolis, decreasing the average wage there
In the United States, the wage rates for high school graduates are growing faster than the wage rates for college graduates
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 1.6 below to answer the question(s) that follow.
Figure 1.6Refer to Figure 1.6. The slope of the line between Points A and B is
A. positive and constant. B. negative and constant. C. positive and increasing. D. negative and decreasing.